Axon Enterprise, Inc $AXON Holdings Trimmed by Westfield Capital Management Co. LP

Westfield Capital Management Co. LP cut its stake in Axon Enterprise, Inc (NASDAQ:AXON) by 14.8% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 790,079 shares of the biotechnology company’s stock after selling 137,722 shares during the period. Axon Enterprise comprises about 2.7% of Westfield Capital Management Co. LP’s investment portfolio, making the stock its 6th largest position. Westfield Capital Management Co. LP’s holdings in Axon Enterprise were worth $654,138,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in the stock. TCTC Holdings LLC raised its stake in shares of Axon Enterprise by 75.0% during the first quarter. TCTC Holdings LLC now owns 56 shares of the biotechnology company’s stock valued at $29,000 after acquiring an additional 24 shares in the last quarter. Banque Transatlantique SA bought a new stake in shares of Axon Enterprise in the first quarter valued at about $31,000. Flaharty Asset Management LLC purchased a new stake in Axon Enterprise in the first quarter worth about $33,000. Hemington Wealth Management grew its holdings in Axon Enterprise by 70.8% during the 2nd quarter. Hemington Wealth Management now owns 41 shares of the biotechnology company’s stock worth $33,000 after acquiring an additional 17 shares in the last quarter. Finally, Whipplewood Advisors LLC increased its holdings in Axon Enterprise by 192.9% during the second quarter. Whipplewood Advisors LLC now owns 41 shares of the biotechnology company’s stock valued at $34,000 after buying an additional 27 shares during the period. 79.08% of the stock is currently owned by institutional investors.

Insider Activity at Axon Enterprise

In related news, CEO Patrick W. Smith sold 10,000 shares of Axon Enterprise stock in a transaction dated Monday, September 8th. The stock was sold at an average price of $743.64, for a total value of $7,436,400.00. Following the sale, the chief executive officer directly owned 3,043,982 shares in the company, valued at approximately $2,263,626,774.48. The trade was a 0.33% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CAO Jennifer H. Mak sold 77 shares of the business’s stock in a transaction that occurred on Monday, September 15th. The stock was sold at an average price of $760.00, for a total value of $58,520.00. Following the sale, the chief accounting officer owned 15,003 shares of the company’s stock, valued at approximately $11,402,280. This trade represents a 0.51% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 38,622 shares of company stock valued at $26,439,364. 4.40% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several research firms have issued reports on AXON. Piper Sandler cut their price target on shares of Axon Enterprise from $893.00 to $753.00 and set an “overweight” rating on the stock in a report on Wednesday, November 5th. Craig Hallum raised shares of Axon Enterprise from a “hold” rating to a “buy” rating and set a $900.00 price target for the company in a report on Tuesday, August 5th. Bank of America lifted their price objective on shares of Axon Enterprise from $895.00 to $1,000.00 and gave the stock a “buy” rating in a research note on Wednesday, August 6th. Royal Bank Of Canada assumed coverage on Axon Enterprise in a research report on Monday. They issued an “outperform” rating and a $860.00 target price on the stock. Finally, Cowen restated a “buy” rating on shares of Axon Enterprise in a research note on Wednesday, November 5th. Fifteen equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $814.00.

Axon Enterprise Trading Down 0.5%

Shares of Axon Enterprise stock opened at $531.09 on Thursday. The firm has a 50-day simple moving average of $690.64 and a two-hundred day simple moving average of $733.23. The company has a debt-to-equity ratio of 0.63, a quick ratio of 2.71 and a current ratio of 2.95. Axon Enterprise, Inc has a fifty-two week low of $469.24 and a fifty-two week high of $885.91. The company has a market cap of $41.91 billion, a P/E ratio of 131.13, a price-to-earnings-growth ratio of 29.49 and a beta of 1.45.

Axon Enterprise (NASDAQ:AXON) last issued its quarterly earnings results on Wednesday, November 5th. The biotechnology company reported $1.17 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.63 by ($0.46). The business had revenue of $710.64 million for the quarter, compared to analysts’ expectations of $704.83 million. Axon Enterprise had a return on equity of 6.80% and a net margin of 13.64%.The business’s revenue for the quarter was up 30.6% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.45 EPS. As a group, equities analysts predict that Axon Enterprise, Inc will post 5.8 earnings per share for the current fiscal year.

About Axon Enterprise

Axon Enterprise, Inc develops, manufactures, and sells conducted energy devices (CEDs) under the TASER brand in the United States and internationally. It operates through two segments, Software and Sensors, and TASER. The company also offers hardware and cloud-based software solutions that enable law enforcement to capture, securely store, manage, share, and analyze video and other digital evidence.